# The Russia (Sanctions) (EU Exit) (Amendment) (No. 2) Regulations 2022, Regulation 5: Dealing with transferable securities or money-market instruments


In regulation 16 (dealing with transferable securities or money-market instruments)—
(a) after paragraph (4) insert—
“(4A) A person (“P”) must not, directly or indirectly, deal with a transferable security or money-market instrument falling within paragraph (4B) if P knows, or has reasonable cause to suspect, that P is dealing with such a transferable security or money-market instrument.
(4B) A transferable security or money-market instrument falls within this paragraph if it has a maturity exceeding 30 days and is issued on or after 1st March 2022 by—
(a) a person, other than an individual, which is—
(i) incorporated or constituted under the law of any part of the United Kingdom, and
(ii) owned by a person falling within Schedule 2; or
(b) a person, other than an individual, acting on behalf or at the direction of a person within sub-paragraph (a).
(4C) A person (“P”) must not, directly or indirectly, deal with a transferable security or money-market instrument falling within paragraph (4D) if P knows, or has reasonable cause to suspect, that P is dealing with such a transferable security or money-market instrument.
(4D) A transferable security or money-market instrument falls within this paragraph if it is issued on or after 1st March 2022 by—
(a) a person connected with Russia, which is not—
(i) a person falling within Schedule 2,
(ii) a person, other than an individual, which on 1st March 2022 is domiciled in a country other than Russia, or
(iii) a person, other than an individual, which on 1st March 2022 is a branch or subsidiary, wherever located, of a person mentioned in paragraph (ii);
(b) a person, other than an individual, which is owned by a person falling within sub-paragraph (a); or
(c) a person, other than an individual, acting on behalf or at the direction of a person within sub-paragraph (a) or sub-paragraph (b).
(4E) A person (“P”) must not, directly or indirectly, deal with a transferable security or money-market instrument falling within paragraph (4F) if P knows, or has reasonable cause to suspect, that P is dealing with such a transferable security or money-market instrument.
(4F) A transferable security or money-market instrument falls within this paragraph if it is issued on or after 1st March 2022 by, or on behalf of, the Government of Russia.”;
(b) for paragraph (5) substitute—
“(5) Paragraphs (1), (3), (4A), (4C) and (4E) are subject to Part 7 (Exceptions and licences).”;
(c) in paragraph (6), for “(1) or (3)” substitute “(1), (3), (4A), (4C) and (4E)”.

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Source: https://www.legislation.gov.uk/uksi/2022/194/regulation/5 (the official version)
Page: https://openlegislation.uk/russia-sanctions-eu-exit-amendment-no-2-regulations-2022/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.